FY2026 Fair Market Rents — Chowan County
Studio
$924
1BR
$930
2BR
$1,220
3BR
$1,463
4BR
$1,615
Chowan County, North Carolina
FIPS 37041 · County-level FMR and income limit data
FMR Area: Chowan County, NC
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $924 | $11,088 |
| 1-Bedroom | $930 | $11,160 |
| 2-Bedroom | $1,220 | $14,640 |
| 3-Bedroom | $1,463 | $17,556 |
| 4-Bedroom | $1,615 | $19,380 |
To afford the FY2026 2-bedroom FMR of $1,220/mo under the 30%-of-income rule, a household needs about
$48,800/yr ($4,067/mo). Area Median Income is $76,900.
At NC's federal minimum wage of $7.25/hr, a worker would need to work 130 hours/week to afford that rent.
Recent FMR Trend
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $924 | $930 | $1,220 | $1,463 | $1,615 |
| FY2025 | $854 | $860 | $1,128 | $1,360 | $1,696 |
| FY2024 | $787 | $792 | $1,041 | $1,259 | $1,586 |
| FY2023 | $737 | $742 | $921 | $1,121 | $1,569 |
| FY2022 | $681 | $685 | $857 | $1,059 | $1,467 |
| FY2021 | $643 | $647 | $808 | $1,005 | $1,399 |
| FY2020 | $629 | $633 | $786 | $979 | $1,380 |
FY2026 Income Limits
Area Median Income: $76,900
| Income Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI | $16,450 | $21,640 | $27,320 | $33,000 | $38,680 | $44,360 |
| 50% AMI | $27,450 | $31,350 | $35,250 | $39,150 | $42,300 | $45,450 |
| 80% AMI | $43,900 | $50,150 | $56,400 | $62,650 | $67,700 | $72,700 |